Use nonmoving inventory to reduce business taxes

Office World News, Nov 1999

GALESBURG, IL-One way for a business to increase profitability is to pay less in taxes. And one way to pay less in taxes is to earn a federal income tax deduction by donating excess, nonmoving inventory to charity. In some cases this deduction can be as much as twice the donated products' cost. A free guide is available that includes step-by-step instructions on the donation process, as well as a formula for calculating your company's potential tax savings.

To receive your free copy of this guide, call the nonprofit National Association for the Exchange of Industrial Resources: 800-289-4551.

NAEIR is a nonprofit organization that collects and processes donations of new, top quality merchandise from American corporations, then redistributes those goods to qualified schools and nonprofits across the United States.